Property taxes in northwest Chicago suburbs to spike by $560 on average

Homeowners in the northwest suburbs of Chicago just learned their property tax bills are going up.

An average homeowner in northwest Cook County will pay $560 more in property taxes this year than he or she paid last year, a jump of 6.5 percent, according to Cook County Clerk David Orr’s tax rate and reassessment values as The Daily Herald reported. Residents of Rosemont and Bensenville will see their property tax bills grow by 11.4 percent and 10.7 percent, respectively.

The rise in taxes includes both an increase in the region’s property values and an increase in the county’s equalization factor, a variable in determining property tax rates that partly determines the taxable value of a property, according to The Daily Herald.